Andrew: Multi-Unit Investor
Andrew and I met through Monica, the great agent I have on my team. Monica and Andrew met through golf. After getting to know each other through golf, Andrew started asking her some questions about real estate and one thing led to another!
Soon enough, we were meeting for an investor consultation with him and discussing his desire to purchase a multi-unit property. After getting approved through a lender, it became apparent that a duplex would make the most sense for what he was looking for. After losing out on a couple of duplexes, we finally got him under contract on an amazing duplex in the Lakewood area. The appraisal came in at value, we were able to negotiate $10,000 in credits with the seller, and within just a few weeks, Andrew closed on this amazing investment property that is walking distance to Belmar!
Congratulations Andrew! You now own 3 doors and are well on your way to buying more. We are very proud of you and excited to watch you build wealth through real estate!
Purchase Price: $880,000 for both sides
Monthly Payment: $4,175 / month (total for both)
Anticipated Monthly Rental Income: $5,5000 / month (total for both)
Current Cap Rate: 4%
Built in 1967
3,228 square feet
2 car garage
12,937 square foot lot